Henley buys final piece of west Melbourne farm
EXCLUSIVE
Henley Homes has snapped up the final piece of a farm marketed as one of the last significant low density residential parcels in the booming suburb of Point Cook, south west of Melbourne’s CBD.
The 2.36 hectare pile at 359 Point Cook Road collected $13.5 million for Sydney based Bathla which held it about 15 months.
The off-market deal comes six months since Wyndham City Council approved an application for a development plan, with 50 dwellings.
As part of that proposal, Flagstaff Crescent would be extended south connecting to Carmen Rd, which would lengthen west.
A north-south street would also be built.
Point Cook is about 25 kilometres from town.
The Henley site is close to Sanctuary Lakes, with a golf course and shopping centre.
Sydney based Bathla acquired it from farmers that banked more than $30m selling 33ha around it to low density housing developers in 2012.
RPM Group’s Zaynoun Melhem was the agent (story continues below).
Developer central
The Point Cook Rd site is surrounded to the north and east by Stockland’s The Address housing estate, with some 470 residences.
Aveo’s Saltwater Coast estate, slated for c2300 homes, abuts it to the south.
Also in the area are Burbank, Central Equity, Dennis Family Homes, Frasers Property Australia and Satterley.
The state government’s Development Victoria is also behind a Point Cook affordable housing project; Cirq, with 100 townhouses, spreads over two hectares at the corner of Lawler and Murnong streets.
In 2021, Metro Property Group, co-founded by Devine Limited’s David Devine, led by Luke Hartman, snapped up a 15.1 piece of a former farm in the suburb, Lot B, Boardwalk Avenue, for c$48m with plans for 260 dwellings.
That seller, Akron Property Group, outlaid $42m four years earlier.
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